Marks biggest Property&Business Lessons - a podcast by Mark Homer

MARK’S BIGGEST BUSINESS AND PROPERTY LESSONS

In this episode, Mark takes us through the biggest lessons he has learnt as an entrepreneur investor.His experience and expertise provide an in-depth insight into the things that really make a difference in property investment, listen in to find out more.

KEY TAKEAWAYSKeeping property

Keeping property in the long term is always a better strategy. If you keep property over the long term and possibly convert it into flats to let or renovate, then you will generally generate more profit from the project.Over the longer term, this will create a build-up of money that will enable you to work less, freeing up your time to do other things.Don’t pay builders for works not complete

Although we sometimes have to run ahead its best to not to expose yourself. If you pay builders up front they are less motivated to complete. Always hold a sizable amount for payment on completion to ensure all aspects are completed to the standard you require.Economic exchanges that initially look cataclysmic are often sortable

Lots of legislation changes, blips with the Stock Market and section 24 haven’t developed into recession and even in this scenario often it’s better to hold.If there is a drop, over the medium to long term the value will go back up again.
Dinner party investmentsOften people like to brag about what they own.

The prettier a property the more likely the yield will be lower and the greater the depreciation compared to less attractive buildingsDoing what looks easiest and the most interesting to others can mean thinner or no profit at all.
Focus on 1 or 2 strategies and get really good at themThe key to making money and business is to get really good at something, becoming better at it than your competition.
Lots of people say equity or shares are better than property investmentsMost of the time the return within a fund is less than if you are investing yourself and adding value to the property as usually the return for cash on cash is in double figures.
Birds of a feather flock togetherIf an investment is risky, a scam or unlikely to produce good results the people around the project often have questionable morals.

You don’t necessarily need to understand an investment just look at the people who are around it.People always buy what they want and not what they need.

People will pay for something they want rather than what they need. if you are developing a product it does need to solve problems and it does need to be something people need but you must make it something they desire above all else.Your spend on marketing and sales in your business should come first. If you don’t have marketing you don’t have a business.
‘No’ from somebody buying something or investing in something is only ‘no’ today  If you are rejected let them see what you are doing, often it is just a matter of time. Be consistent and let them see you can be trusted.
Cars, things and gadgetsExperiences and relationships are far more satisfying than things. Focus on things you can do these experiences will stay forever.

BEST MOMENTS‘It usually all works out’

‘People often misevaluate’‘We are attracted to things that keep us safe’

‘Make sure you are buying buildings that are throwing out value’‘You’re much better buying the old dirty buildings and adding value’

‘Investments that shine usually don’t’‘The sizzle sells the steak’

VALUABLE RESOURCEShttps://itunes.apple.com/gb/podcast/mark-my-words-podcast/id1165370399?mt=2

ABOUT THE HOSTMark Homer

Mark Homer is an entrepreneur investor.  He has worked with investment since he was 15 years old using the laws of wealth! He is a spreadsheet analyst with an impressive following from major publications including BBC Radio, The Wall Street Journal, The Independent, as well as co-authoring the UK’s best-selling property books.  Mark has always looked for the best investment vehicle, and at the end of 2007 with Rob Moore the co-founder of Progressive Property his joint portfolio produced more profit than any of the other investments he’d tried in the last ten years, combined.CONTACT METHOD

Markhomer@progressiveproperty.co.ukhttps://www.linkedin.com/in/markhomer1

https://www.facebook.com/markprogressivehttps://twitter.com/markprogressive

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